Sourcing and procurement are two critical functions within the field of operations and supply chain management. They involve the acquisition of goods and services necessary for the production of goods or services that a business provides to its customers. Sourcing and procurement can significantly impact a company's bottom line, making it crucial to have a solid understanding of these functions.
In this video, we will explore the basics of sourcing and procurement, including the different sourcing strategies and procurement processes used by organizations. We will discuss the benefits and drawbacks of each approach and provide real-life examples to help you understand the practical applications of these concepts.
Whether you are a business owner, a supply chain professional, or a student interested in the field of operations management, this video is for you. Join us as we delve into sourcing and procurement and learn how these essential functions can help your organisation succeed.
